Townhouse buyers scarce
June 18, 2009 02:30PM By Lynne Miller
11 East 74th Street
From the June issue: If developers think selling new condominiums in Manhattan is tough, they should try finding buyers for high-end townhouses. Pricey, older townhouses appeal to a tiny percentage of buyers — by one broker's estimate, just 3 percent of house hunters are looking for a townhouse — and as a result, they've always taken longer to sell than condominiums. But since the real estate market crashed, townhouses are proving even more difficult than usual to sell, and when properties do change hands, it's only after steep price reductions. "The townhouse market has been a little on the slow side," said Anne Snee, a senior vice president at the Corcoran Group. "Townhouses are trickier to market. It's taking longer than normal for everything to sell."
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Comments
Anonymous
The title is wrong - there are plenty of buyers - what we lack is townhouse owners that understand where current prices are. You price it right it will be in contract in a month.
Comment #1 Posted By: Anonymous 06/18/09
Anonymous
Who sold Renne Zellwiger her TH?
Comment #2 Posted By: Anonymous 06/18/09